Panama Approves Canal Toll Increase

press release
Wednesday, August 08, 2012

Implementation of new pricing for certain segments moved to October 2012 and October 2013; new tolls said to move Canal's price closer to value of services provided.


Following the recommendation from the Board of Directors of the Panama Canal Authority (ACP), the Cabinet Council of the Government of the Republic of Panama approved yesterday the proposal to restructure the Panama Canal’s pricing system.  “The new tolls structure was conceived in accordance with the commercial value that the route offers its users.  We look forward to working alongside the industry to continue offering a reliable and competitive service,” said Panama Canal Authority Administrator/CEO Alberto Alemán Zubieta.
 

The new tolls were postponed to October 2012 and October 2013, respectively. 
 

“The new structure offers price stability to the Panama Canal clients during the next two years, while the approved tolls remain below the value it offers as a safe, reliable and efficient route,” added Alemán Zubieta.
 

New Segments
 

The new structure increases the number of segments from eight to ten. It also breaks down the tanker segment into three distinct segments and incorporates the roll-on/roll-off vessels into the vehicle carrier segment. The Panama Canal market segmentation structure includes the following: (1) full container, (2) reefer, (3) dry bulk, (4) passenger, (5) vehicle carrier and ro-ro, (6) tanker, (7) chemical tanker, (8) LPG, (9) general cargo and (10) others. The container/breakbulk segment, which was included in the original proposal, has been eliminated.
 

The ACP will increase the tolls for the following segments:
 

•       general cargo
•       dry bulk
•       tanker
•       chemical tanker
•       LPG
•       vehicle carrier and ro-ro
•       others


The remaining segments will not be adjusted at this time, nor will the price per TEU for containers carried onboard a vessel. Additionally, there will be changes to tolls applicable to small vessels based on vessel length, to incorporate adjustments not previously considered.
 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

Container Ships

Hapag-Lloyd Adds Halmstad to Rotation

As one of the top global carriers Hapag-Lloyd offers a comprehensive service network and will add port of Halmstad, Sweden to the Nordic Short Sea Network. As

China Shipping Orders Eight 13500 TEU Box Ships

China Shipping Container Lines has placed orders for eight 13,500 twenty-foot-equivalent container ships at Shanghai Jiangnan Changxing Shipbuilding, continuing

Shanghai 6th Best Shipping Center Globally

Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative,

Government Update

Thordon Bearings Secures AK Ferry Contract

Thordon Bearings has received an order to supply its COMPAC system to two Alaska Ferry newbuilds under construction at the Vigor Industrial shipyard in Ketchikan, Alaska.

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

DHS, Postal Service to Dedicate USCG Forever Stamp

U.S. Department of Homeland Security (DHS) and Postal Service leaders are scheduled to dedicate the United States Coast Guard Forever stamp during a ceremony Tuesday at Coast Guard Headquarters.

Logistics

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1753 sec (6 req/sec)